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GAS POWER: ERM Power's generation facility at Kwinana, which has a similar capacity to its Three Springs proposal.

EPA gives green light to $500m power plan

Brisbane-based power generator ERM Power has gotten the nod from the Western Australian environmental watchdog to build a $500 million power station and gas pipeline at Three Springs in the Mid West.

ERM chief executive Phillip St Baker said the 330 megawatt, low emission open cycle gas turbine facility was intended to serve growing demand for energy in the emerging iron ore province, and would also feed energy into the south west energy grid, which powers the southern half of the state.

Western Power submitted an application to the state economic regulator last month to construct power line infrastructure from Neerabup to Three Springs, to facilitate connection from new projects, such as ERM’s, into the south west grid, and cater for the growing demand in the Mid West.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 30/11/16

1 year TSR5 year TSR
76thFortescue Metals Group210%8%
129thSouth32129%0%
431stIluka Resources10%-14%
466thWoodside Petroleum2%3%
558thAtlas Iron-14%-63%
773 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

03/11/16
$6.9m Bought
23/09/16
$0 Other
23/09/16
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$9,806.1m
2nd↑South32$8,262.9m
3rd-Woodside Petroleum$6,935.4m
4th↑Iluka Resources$884.1m
5th↑Atlas Iron$803.7m
505 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

4thNev Power$5.324m
18thStephen Pearce$2.017m
24thNick Cernotta$1.873m
Ranked by total remuneration from all listed WA companies

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